UAE No 1 Ahmed Skaik set to compete at 2021 Abu Dhabi HSBC Championship

The UAE's No 1 golfer Ahmed Skaik will compete at this year’s Abu Dhabi HSBC Championship having received the UAE National Amateur invite on behalf of the Abu Dhabi Sports Council.

Skaik will have the chance to test his skills against some of the best players in the world, including four-time major winner Rory McIlroy and world No 3 Justin Thomas.

The 23-year-old Emirati made his European Tour debut at last year's Abu Dhabi HSBC Championship and went on to win the 2020 UAE Presidents Cup before clinching two Men’s Open tiles to finish as runner-up in the EGF Order of Merit rankings.

At the end of last season, Skaik competed in another European Tour event at the Golf in Dubai Championships.

“It is a privilege to receive the invitation to return to the Abu Dhabi HSBC Championship," Skaik said. “It was an incredible experience last year and a pivotal learning curve in my career. I can’t wait to go back and give my all alongside some of the best players in the world.

“It was great to get out at the Golf in Dubai Championships a few weeks ago, and it was a huge honour to hit the first tee shot on UAE National Day.

“I can take some vital lessons from those rounds into next week. Given it is the 50th anniversary of the UAE it is even more special to play in this tournament, and I’m determined to put in a performance to make my nation proud.”

The 2021 Abu Dhabi HSBC Championship, taking place January 21-24, is the first tournament of the new European Tour season and will be one of four Rolex Series events played across the year.

“We are delighted to welcome back Ahmad to the Abu Dhabi HSBC Championship. He is the shining star of Emirati golf and destined for great things in the future," Aref Al Awani, general secretary of the Abu Dhabi Sports Council, said.

“Abu Dhabi has become of one of the world’s leading destinations for sport and with ambassadors such as Ahmad we hope to continue to inspire future generations of sportsmen and women for years to come.”

First staged in 2006, the Abu Dhabi HSBC Championship is hosted at the Abu Dhabi Golf Club for the 16th consecutive year, with a prize fund of $8 million and 8,000 Race to Dubai points available.

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Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks.

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.

8. Pillar 2 implementation

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.

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